Each year, the Valuer-General Victoria provides Nillumbik Shire Council with a valuation of your property. This valuation is used by Council to calculate your rates.
There are three valuations shown on your rate notice:
- Site Value (SV): the value of your land only, without improvements (such as buildings)
- Capital Improved Value (CIV): the assessed market value of your property including both land (SV) and all improvements (such as buildings)
- Net Annual Value (NAV): a minimum of 5 per cent of CIV (higher for some non-residential properties).
Nillumbik Council uses your property's CIV to calculate your rates.
If you disagree with the value of your property as shown on your rate notice, contact us to:
- get a clearer understanding of your valuation
- find out how to lodge a formal objection
You must lodge an objection within 2 months of the issue date of your annual rate notice.
Even if you object to a valuation, you must still pay your rates by the due date.
For more information about objecting to a valuation, contact:
Rates and Valuations
Phone: 9433 3285
In certain circumstances, valuations are conducted between annual valuations.
These are known as supplementary valuations. A supplementary valuation is required when a property is:
- physically changed, for example, when buildings are altered, erected or demolished
- rezoned, or
- portions are sold off.
If a supplementary valuation is done on your property and the property value changes, Council will send you a notice about amended rates and valuations.